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F&N Gets Possession of RM26m KKIP Lot

posted 12 Oct 2016, 19:21 by iConnect@ F&N   [ updated 12 Oct 2016, 19:22 ]

26 August 2016 - Fraser & Neave Holdings Bhd (F&NHB) is set to kick start plans to establish a new beverage plant in East Malaysia after receiving the handover of land of a 21.33 acre land at Industrial Zone 8 (IZ8) of the Kota Kinabalu Industrial Park (KKIP).

Valued at RM26 million, the new site will enable the Group to extend its footprint in East Malaysia and cater for the growing demand in the local market. The plant, which is expected to be operational within the next six years, will cost approximately RM85 million to construct.

The site, which has HALMAS Halal Park certification, will allow F&NHB to leverage its location and expand export opportunities in the fast growing and relatively untapped halal markets in the Middle East, Africa and IndoChina.

Present at the handover ceremony were Y. Bhg Datuk Joseph Yuntavid, Sabah Deputy State Secretary (Development) cum Director of KKIP Sdn Bhd (KKIPSB), Mr. Lim Yew Hoe, Chief Executive Officer of F&NHB, Mr. Lee Meng Tat, Chief Executive Officer of Non-Alcoholic Beverages, Fraser & Neave Limited, Ir. Melvin Disimond, Chief Executive Officer of KKIPSB and officials from KKIPSB and F&NHB.